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Google has unleashed what it hopes will be a JPEG killer: WebP. This new graphics file format reduces file size by 40%, which could mean quicker file transfers and a speedier Web, according to CNET—if Google can convince us to use it. That could be tricky, considering all online image storing sites, cameras, and phones are married to the JPEG format. But the fact that it's building native support for WebP into Chrome could give it an edge.

"Because Google has some very popular Web pages along with a widely used if not dominant browser, the company can make something practical and real out of technology that in another company's hands would be merely academic unless it signed up partners," writes Stephen Shankland for CNET. Read the full article.

The important thing that this summary doesn't mention is that WebP is an open format. That means it is not encumbered by things like patents, and it can be improved and developed upon by the community. I think this fits perfectly will with the push for more open standards over all. After all, with HTML5, browsers will have to support an open video and audio format. Why not an open image format?